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Thailand eyes cryptocurrency holders and even Elon Musk to help boost post COVID-19 tourism


webfact

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10 hours ago, fdsa said:

 

????‍♂️

It is anonymous and do not require any paperwork if you choose to store coins on your personal computer rather than trust your coins to some third party residing somewhere "in the cloud".

You need an exchange to buy and sell bitcoin and thats who require the paperwork because they are dealing with fiat currencies and most governments regulate this. Of course you can set up a wallet and receive and send bitcoin direct. Your coins are NOT stored on your personal computer, they are stored on the blockchain. Your private key to access those coins is stored on your computer. Most wallets have a a list of words (both mine have 24 words) that you are given to you when you open a wallet and you store the list securely off your computer and if the computer dies you use these words to recover you private key and hence your crypto. Without this words and you HD crashes then your coins are lost. They are still on the blockchain but the key is on your computer.

 

I use and Australian exchange to buy and sell crypto and needed paperwork to set up an account but once coins bought I store on a hardware wallet. If i didn't have this exchange account I would not own crypto. I would trust a government regulated exchange over buying some crypto off someone I met on Farcebook.

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18 hours ago, Tech65 said:

Good comment +.

I just wanna add that tourist business will never come back again not even close to what used to be before simply because the low-middle class where those tourists used  to come from is under attack and under demolition in almost all the countries where Thailand were one of the preferred tourist destination, chosen because tourist friendly, fair prices, somehow cheaper than other destinations, good nightlife and, last, with good food, beautiful beaches and temples. Destinations like Samui were dying already long before the covid-19 due to vampiric management of  tourists and residents.

But the national catastrophe is arriving, can be seen everywhere . There are many businesses not strictly related to tourism, but somehow connected, that are choking. 

 

 

I agree wholeheartedly. There were countless issues, long before Covid, and NONE of them were being addressed. This administration is very regressive, and reactionary, and not the visionary and progressive leadership Thailand desperately needs now. 

 

Phuket and Samui have tough roads ahead. Really tough. And they are getting zero assistance from the lame army. That is for sure. 

Having lived on Samui for nearly a decade, some years back (the golden years of Samui, perhaps), I too felt some of the same sentiments, on my recent visit. Very hard to see the locals suffering like this. Hundreds of hotels, restaurants, stores, galleries, pharmacies, opticians (Samui already had way too many!), massage shops, and other businesses have already closed permanently, and I am told that most which have "under renovation" signs on them, are closed for good too. Lamai and Chaweng are particularly hard hit. Bank Rak, Bhoput, and Maenam do not feel quite as devastated. It does feel a bit like visiting after some sort of apocalypse. 

 

In terms of the vampiric management of tourists, one of the reasons I left Samui, was the attitude of alot of the locals. Back before the Apocalypse many of them were very jaded, and they seemed to be indifferent, and service suffered as a result of that. Less so with the Burmese workers, as they tend to be quite kind and helpful. Also, there is little to no local pride, as most who are from Samui left long ago, after selling their land. That hurts. It was hard living in a place where most of the locals just did not seem to care about the island. Sometimes, the place felt like a year old dishrag in a diner kitchen. Most of the people there for the past 10 years are transplants, who do not care about keeping up the island. The ex-pats always seemed more concerned about maintaining the cleanliness, than the locals. 

There does not appear to be any end in sight for the Southern Islands. Domestic tourism has now been wrecked due to a very poor reaction by Anutin and the administration, with regard to the need for a total shutdown of Samut province, which happened far too late, after the latest outbreak. It was total and abysmal failure. Oh, can I go to prison for saying that? 

 

 

 

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3 hours ago, Dazinoz said:

I would trust a government regulated exchange over buying some crypto off someone I met on Farcebook

The good (and the bad) feature of the cryptocurrency - the payment could not be reversed after a few network confirmations. Once that facebook guy sends you coins and they got at least 2 confirmations - these coins are yours.

 

Unlike paypal or credit card where you could receive money for some product, send that product to the buyer, then buyer asks their bank or paypal for refund, and you're left without your product and without payment.

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12 hours ago, fdsa said:

THEY understand it well, it's YOU forum members who do not understand the simple fact: Thailand does not want backpackers anymore, only rich tourists are welcome.

Click "back" button in your browser to go to the "Thailand News" subforum and read all those topics about selling elite condos to Chinese millionaires, converting Pattaya to Dubai and such.

We’re talking about Bitcoin here, not backpackers. Are you on the right topic?

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5 minutes ago, fdsa said:

Once that facebook guy sends you coins and they got at least 2 confirmations - these coins are yours.

If he sends them to you or product you buy is sent. I have been scammed twice like this with sending BTC direct. NO comeback. With Paypal and credit cards I have received refunds. So opposite to what you say and this is from experience.

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3 minutes ago, Stoker58 said:

We’re talking about Bitcoin here, not backpackers. Are you on the right topic?

have you read the article or the title only?

 

>>>>

 

On 2/19/2021 at 3:57 PM, webfact said:

The goal is to attract high quality and high spending tourists once the country fully re-opens its borders.

 

 

despite many backpackers own some cryptos they are not high quality nor high spending tourists.

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Just now, Dazinoz said:

If he sends them to you or product you buy is sent. I have been scammed twice like this with sending BTC direct. NO comeback. With Paypal and credit cards I have received refunds. So opposite to what you say and this is from experience.

that's why we have localbitcoins.com, localcryptos.com, and good old personal meetings.

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43 minutes ago, fdsa said:

that's why we have localbitcoins.com, localcryptos.com, and good old personal meetings.

Bit hard for personal meeting someone on other side of the world. One of the major advantages of crypto is borderless transactions.

Not really looked at the others methods.

Edited by Dazinoz
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Since crypto seems to appeal to criminals or pedophiles, there's already a large well established customer base in Thailand.

 

Normal people have bank accounts and ATM cards. 

 

Because they have something called a "job" where they get something called a "paycheck", which they deposit in the bank account.

 

Call me old fashioned ????

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1 minute ago, SiSePuede419 said:

Since crypto seems to appeal to criminals or pedophiles, there's already a large well established customer base in Thailand.

 

Normal people have bank accounts and ATM cards. 

 

Because they have something called a "job" where they get something called a "paycheck", which they deposit in the bank account.

 

Call me old fashioned ????

 

I know a few people who keep all their wealth in US treasury bonds and/or blue chip stocks.

 

They don't work for a living, obviously all criminals right?

 

You're old fashioned, now get back to work and earn your next 'paycheck' ????????

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Thailand has always been progressive...this is an excellent idea. Bitcoin is here to stay, it's inevitable.  Those that can't see the inevitability of digital currency fall into 2 classes; old people...or those that don't own any and have missed the train.

Edited by sdweller
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1 hour ago, sdweller said:

Thailand has always been progressive...this is an excellent idea. Bitcoin is here to stay, it's inevitable.  Those that can't see the inevitability of digital currency fall into 2 classes; old people...or those that don't own any and have missed the train.

Yes, and I didn't miss the train, I was just too cautious to get into it.  I can remember when it was 200 bucks or so.  Look at it now.  Imagine investing 100k into it!

IT's down around 17 percent right now - who knows if it will continue downwards or go up.  

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2 hours ago, sdweller said:

Those that can't see the inevitability of digital currency fall into 2 classes; old people...or those that don't own any and have missed the train.

 

I think it is rather those that can't see the difference between a digital and a crypto (virtual) currency will get flattened by the train one day.

 

https://www.bbva.com/en/what-are-the-differences-between-a-digital-currency-and-a-cryptocurrency/

 

Central bank-backed digital currencies, such as the potential digital euro and digital yuan, may become a reality in the coming years. Unlike cryptocurrencies such as Bitcoin and Ethereum, these currencies promise less volatility and greater security. In addition, they will have the support of their respective monetary institutions, responsible for ensuring financial stability.

 

https://finance.yahoo.com/news/bill-gates-investing-bitcoin-less-095518862.html

 

Bill Gates On Investing In Bitcoin: 'If You Have Less Money Than Elon, You Should Probably Watch Out

 

The philanthropist explained that he is not keen on Bitcoin, primarily because of the amount of electricity it consumes and the promotion of irreversible anonymous transactions. and that he is more enthusiastic about digital currencies.

 

“Digital money is a good thing,” Gates said, claiming the difference lies in terms of being regulatory-compliant and still giving the convenience and low-cost associated with cryptocurrency transactions.

Edited by Susco
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26 minutes ago, Blumpie said:

IT's down around 17 percent right now - who knows if it will continue downwards or go up.  

 

 

Just ask the crypto experts on this forum, who for years in line have bought at bottom prices, then sold at all-time highs, and bought again after it crashed at the lowest price just before it started recovering again.

 

Rinse and repeat

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